Australia Post responds to media coverage of CEO’s remuneration

Australia Post responds to media coverage of CEO’s remuneration

Australia Post has responded to the media coverage regarding CEO Ahmed Fahour’s remuneration package. Earlier this week, Fahour’s $5.6m pay package was the subject of critical news coverage. Even the Australian Prime Minister Malcom Turnbull weighed into the debate saying: “That is a very big salary for that job.”

In a statement posted on its website, Australia Post has responded by saying: “The remuneration of the executive team, including the Managing Director & Group CEO, is set by the Australia Post Board.

“Mr Fahour’s total remuneration package takes into account the size and complexity of the organisation, which has an annual turnover of more than $6 billion. It also reflects the large-scale transformation underway and that more than 73 per cent of its revenue comes from the non-regulated side of the business where it is competing with major global players such as DHL, FedEx and Toll.

“Mr Fahour’s remuneration in FY16 included a performance-based short-term bonus in line with Australia Post returning to profit. The previous year he did not receive a bonus.

“Total executive remuneration has not increased since 2014 when the executive last received their full eligible performance bonus.

“Since 2007 Australia Post has paid more than $6.3b in dividends and taxes to the Federal Government. Australia Post does not receive any taxpayer funding.”

 

 

Relevant Directory Listings

Listing image

RouteSmart Technologies

RouteSmart Technologies helps the largest postal and home delivery organizations around the world build intelligent route plans for more efficient last-mile operations. No matter the size of your business, our proven solutions allow you to decrease planning time, create balanced and efficient delivery routes, lower […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What’s the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This